USD/CHF Price Analysis: Pierces immediate resistance line around mid-0.9100s

USD/CHF trims early-Asian losses while staying above 200-HMA, three-day-old support line.
Bulls eye weekly top amid normal RSI, bears have many challenges to pass before retaking the controls.

Anil Panchal FXStreet

While breaking a downward sloping trend line from Wednesday, USD/CHF marks an uptick to 0.9150 during the early Friday. The swiss pair bounced off a three-day-old ascending trend line the previous day.

In doing so, the quote manages to keep the upside break of 200-HMA, portrayed on Monday.

Other than the resistance line break and sustained trading beyond the key HMA, USD/CHF buyers can also cheer the absence of overbought RSI conditions to probe the weekly high of 0.9192.

However, tops marked on November 04 and 02, respectively around 0.9200 and 0.9210, can restrict the USD/CHF pair’s upside past-0.9192.

Alternatively, the immediate support line near 0.9137 precedes the 200-HMA level of 0.9115 to restrict short-term declines of USD/CHF.

Also acting as an additional hurdle to the south is a horizontal area including November 4 low and November 5 high surrounding 0.9082/90.

USD/CHF hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	0.9149
Today Daily Change	-4 pips
Today Daily Change %	-0.04%
Today daily open	0.9153

Trends
Daily SMA20	0.9109
Daily SMA50	0.9138
Daily SMA100	0.9185
Daily SMA200	0.9419

Levels
Previous Daily High	0.9175
Previous Daily Low	0.9132
Previous Weekly High	0.9208
Previous Weekly Low	0.8982
Previous Monthly High	0.9219
Previous Monthly Low	0.9031
Daily Fibonacci 38.2%	0.9148
Daily Fibonacci 61.8%	0.9159
Daily Pivot Point S1	0.9131
Daily Pivot Point S2	0.911
Daily Pivot Point S3	0.9088
Daily Pivot Point R1	0.9175
Daily Pivot Point R2	0.9197
Daily Pivot Point R3	0.9219

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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